Genco Shipping & Trading Limited completes common stock offering

Genco Shipping & Trading Limited has successfully completed its previously announced public offering, issuing 7,015,000 new shares of common stock, which included the exercise in full of the underwriters’ option to purchase up to 915,000 shares of common stock, the company said in its press release. As a result, 41,547,004 shares of common stock were outstanding following completion of the offering. Gross proceeds of the offering were approximately $115.7 million. Genco intends to use the net proceeds from the offering for future vessel acquisitions.

The common stock was offered pursuant to a shelf registration statement that was previously filed with and declared effective by the U.S. Securities and Exchange Commission (the “SEC”). The offering was made only by means of a prospectus supplement and an accompanying prospectus.

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